American Electric Technologies on July 1 announced the launch of a new company subsidiary, M&I Electric Brazil.
M&I Electric provides a full range of turnkey power delivery solutions including power distribution, power conversion, power control/automation systems, and power construction and services for the oil and gas and power generation sectors of the global energy industries.
“The formation of M&I Electric Brazil fulfills our objective of developing local capabilities in rapidly growing oil and gas markets worldwide, with the goal to have majority or total ownership of those international entities,” said Charles Dauber, AETI president and CEO. “We are bullish long term on Brazil and believe the country’s natural resources and large deepwater oil and gas reserves make it a critical market for AETI in the future.”
The wholly owned Brazilian operation was formed following the company’s recent withdrawal from its previous minority-owned joint venture, AETI Brazil.
Jose Octavio has been named General Manager of M&I Electric Brazil. He has over 15 years experience in the electrical products and services business in the Brazilian oil and gas markets including tenures with both AETI Brazil and ABB.
M&I Electric Brazil will be headquartered in Macaé, Brazil, with a regional service center located in Rio de Janeiro.
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